Gold Rate Today: 24K Gold at ₹1,46,345 per 10g on 14 October, Down ₹1,317

The 14 October AM values and the like-for-like 13 October AM comparison are published in IBJA's benchmark rate table. 

How Much Did Gold Fall Today? 

The benchmark 999-purity gold price declined ₹1,317 per 10 grams between the two AM fixings. 

In percentage terms: 

(₹1,46,345 − ₹1,47,662) ÷ ₹1,47,662 × 100 = -0.89% 

The percentage decline was broadly the same across the other published gold purities because their rates are derived from the underlying fine-gold benchmark. 

Silver moved more sharply, falling 2.27% on the same AM-to-AM basis. 

For a buyer comparing only the underlying 999-purity metal value, 10 grams cost ₹1,317 less at the 14 October AM benchmark than at the previous trading day's AM benchmark. Actual jewellery bills also incorporate GST, making charges and other applicable costs. 

What Is Driving Gold Prices? 

International bullion was softer during Wednesday's session. Spot gold was around $4,142.85 per ounce at 0924 GMT, down about 0.3%, while US December gold futures were around $4,165.40. 

One focus for global bullion markets was the US Consumer Price Index report due later in the day. Inflation data matters for gold because it can affect expectations for US monetary policy, Treasury yields and the dollar. 

New York Federal Reserve President John Williams had also reiterated that the US central bank might need another rate increase during the year. Higher interest rates increase the opportunity cost of holding a non-yielding asset such as gold. 

Geopolitical developments in the Middle East remained another cross-asset factor, although the day's Indian benchmark decline should not be attributed to a single catalyst. 

What Can Lower Gold Prices Mean for Indian Markets? 

Jewellery Companies 

A lower underlying bullion price reduces the rupee value of a fixed quantity of raw-gold inventory. It can also alter working-capital requirements for jewellery manufacturers and retailers. 

The actual financial effect depends on inventory accounting, procurement timing, hedging policies and the extent to which changes in raw-material prices are passed through to customers. 

Consumer Demand 

At the IBJA benchmark level, 10 grams of 999-purity gold cost ₹1,317 less than in the previous AM fixing. 

For consumers purchasing a fixed quantity of gold, a lower benchmark reduces the underlying metal component of the purchase price. GST and jewellery-making charges remain separate. 

Gold Imports 

India imports a significant portion of its gold requirements. For unchanged import volumes and exchange rates, a lower dollar or rupee price of gold reduces the value of a given quantity of imports. 

Actual import expenditure also depends on the USD/INR exchange rate, physical demand, import volumes and applicable duties. 

Gold-Loan Businesses 

Gold prices influence the assessed value of jewellery pledged as collateral. 

When benchmark gold values change, the monetary value of collateral can also change. Lending remains subject to applicable loan-to-value rules, lender valuation practices and the purity and weight of the pledged jewellery. 

Broader Markets 

Gold is monitored alongside the dollar, government bond yields, inflation expectations and geopolitical developments because these variables affect the relative demand for financial and physical assets. 

A one-day movement in gold, however, does not by itself determine the direction of equities, currencies or other asset classes.